PEOPLE

Los Angeles County

Ronald A. Alghini, president and chief operating officer of Jefferies Group Inc., will resign those posts on Jan. 2 "to pursue other business interests," the Los Angeles-based securities firm announced Thursday.

Frank E. Baxter, an executive vice president in charge of Jefferies' London subsidiary, is expected to replace Alghini as president, the firm said.

Alghini, who served as president since 1980, could not be reached for comment.